october 2017
september 2017

About the Swiss Franc

News

Dear friends, partners and customers,

 

Every time you come to Chronopassion, or call us, it’s not simply to ask for information. The world has changed, and today information is everywhere: free, accessible, shared, and commented on. The extra special something we deliver is assistance and advice. And that’s exactly what we’re giving you now, because at 10.38 am last Thursday, the world changed once again.

What happened? In short, since 2011 the exchange rate for the Swiss franc against the euro had been capped at 1.20 Swiss francs to the euro. As of this past week, that’s no longer the case. The Swiss National Bank (SNB) has taken the decision to allow the Swiss franc to float freely.

This will affect all of us directly. Here at Chronopassion, we’re neither magicians nor soothsayers – simply a store with a quarter of a century’s worth of horological experience. Nobody can predict whether the Swiss franc will continue to rise, or at what rate it might level off. What we do know is that it’s already risen by over 20%. Which means that over the next few days and weeks, the entire Swiss industry will have to revise its price policy upwards – by 10, 20, 30, or 35%; it’s impossible to tell.

We’re in the habit of singing the praises of horological madness, and all the benefits of succumbing to temptation in this respect. But today, our message is quite simply based on common sense: buying a timepiece right now will inevitably be a much better deal than doing so tomorrow, the day after, or the day after that.

Is this simple commercial opportunism on our part? Perhaps it is. But one thing is certain: manufacturers, retailers and customers alike will all lose out as a result of the SNB’s policy. You are the only ones who have a card to play in the next few days, before the storm hits. Indeed, we’re still in the halcyon days here at Rue Saint-Honoré, and we’ll be as delighted as ever to welcome you.

 

Laurent Picciotto

Owner of Chronopassion

PS: despite it all, we’re daring to venture as far as the Salon International de la Haute Horlogerieexhibition in Geneva, so exceptionally, we’ll be closed on Monday 19th – you’ll be welcome as of Tuesday 20th!